Banks Respond to Proposed Cap on Credit Card Interest Rates

[StarkRaven$]

On 1/14/2026 at 2:15 AM, MP80 said:

Helping poor people who are burdened with massive, long-term debt is a good thing, as this assistance can temporarily alleviate the seemingly endless burden on these debtors.

 

However, the potential negative consequences will affect us who pay in full and lenders, such as reduced credit limits or rejected loan applications, which will hinder the efficient functioning of the credit market, and is a more significant concern.

 

This idea was initially proposed by Massachusetts Senator Elizabeth Warren, the founder of the Consumer Financial Protection Bureau (CFPB) and a member of the Senate Finance Committee, who has consistently throughout her career advocated for the rights of working-class and low-income individuals. The White House later adopted her suggested 10% cap as a policy guideline.

Love your credit catagories with your sig. I'm still just a credit slut. Hahahaha!!!!

[Flyingifr]

Then I made the deadline. Even still, $350 is still less than $515 which would be the ticket price from TUS to PIT and back.

[MP80]

13 hours ago, StarkRaven$ said:

Love your credit catagories with your sig. I'm still just a credit slut. Hahahaha!!!!

If you aspire to achieve your goals, work hard and put in the effort, you are very likely to rise to the level of a Credit Pimp or Ultra Pimp Supreme Status.  

Edited February 16 by MP80
ETA